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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2018
Dec. 31, 2017
Investments:    
Fixed income securities, available for sale at fair value (amortized cost — $5,273.4 and $5,201.2) $ 5,176.4 $ 5,231.0
Fixed income securities, trading at fair value (amortized cost — $1,434.2 and $1,634.9) 1,407.2 1,649.3
Equity securities, trading at fair value (cost — $0 and $414.8) 0.0 491.0
Short-term investments, available for sale at fair value (amortized cost — $120.4 and $90.0) 120.4 89.9
Short-term investments, trading at fair value (amortized cost — $4.3 and $73.0) 4.3 73.0
Catastrophe bonds, trading at fair value (cost — $37.7 and $33.5) 37.4 32.4
Investments, equity method 66.9 66.4
Other investments 100.5 0.0
Total investments 6,913.1 7,633.0
Cash and cash equivalents (including $41.0 and $166.6 within consolidated variable interest entities) 1,026.6 1,054.8
Reinsurance recoverables    
Unpaid losses 1,767.1 1,515.2
Ceded unearned premiums 666.5 515.5
Receivables    
Underwriting premiums 1,700.1 1,496.5
Other 202.2 151.1
Funds withheld 91.6 99.8
Deferred policy acquisition costs 290.1 294.3
Derivatives at fair value 6.4 6.4
Receivables for securities sold 7.7 5.3
Office properties and equipment 75.0 75.5
Tax recoverable 24.3 2.3
Deferred tax assets 26.3 28.3
Other assets 0.5 0.5
Intangible assets and goodwill 26.7 27.9
Total assets 12,824.2 12,906.4
Insurance reserves    
Losses and loss adjustment expenses 6,726.2 6,749.5
Unearned premiums 1,974.4 1,820.8
Total insurance reserves 8,700.6 8,570.3
Payables    
Reinsurance premiums 586.4 357.5
Accrued expenses and other payables 333.6 455.4
Liabilities under derivative contracts 3.1 1.0
Total payables 923.1 813.9
Loan notes issued by variable interest entities, at fair value 0.0 44.2
Long-term debt 424.7 549.5
Total liabilities 10,048.4 9,977.9
Commitments and contingent liabilities (see Note 16) 0.0 0.0
SHAREHOLDERS’ EQUITY    
Ordinary shares, value 0.1 0.1
Preference shares:    
Non-controlling interest 2.9 2.7
Additional paid-in capital 966.0 954.7
Retained earnings 1,962.0 2,026.9
Accumulated other comprehensive income, net of taxes (155.2) (55.9)
Total shareholders’ equity 2,775.8 2,928.5
Total liabilities and shareholders’ equity 12,824.2 12,906.4
5.95% preference shares    
Preference shares:    
Preference shares, value 0.0 0.0
5.625% preference shares    
Preference shares:    
Preference shares, value $ 0.0 $ 0.0